Sparkasse Gütersloh-Rietberg Zweckverbandssparkasse der Stadt Gütersloh appointed Kay Klingsieck its new CEO from Jan. 1, 2018, succeeding Jörg Hoffend, whose contract ends Dec. 31, 2017.
Klingsieck has been working at Sparkasse Gütersloh since 1999 and became a member of the executive board in 2014. He was also involved in the merger with Sparkasse Rietberg at the beginning of 2017.
The merger put the two savings banks, based in the northwestern German state of North Rhine-Westphalia, in a better position to cope with the low interest rate environment, tighter regulation, demographic changes and digitization challenges in the market, Klingsieck said.
Sparkasse Gütersloh-Rietberg also announced the appointment of Torsten Neubauer as a new member of the executive board from the beginning of 2018. Neubauer heads the group's corporate clients business.